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OpenAI logo seen in illustration.

Jaap Arriens/NurPhoto

OpenAI moves forward with stock sale

Despite the recent Sam Altman ouster and reinstatement, OpenAI’s long-planned sale of private company stock is set to proceed. Before the turmoil, investors — led by venture capital firms such as Thrive Capital, Sequoia Capital, and Khosla Ventures — were hoping for a $86 billion valuation. That sum would make it among the most valuable private tech companies in the world, ahead of payments company Stripe ($50 billion), and Fortnite maker Epic Games ($32 billion), though it still falls short of the largest pre-IPO firms like TikTok parent ByteDance ($223.5 billion) and SpaceX (which expects a $150 billion valuation in an upcoming stock sale).

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